You may have heard that time does not wait for anyone, and it becomes principally true in the case of consulting companies. The noticeable dynamics have been continuously evolving. These dynamics have opened up challenges and opportunities. The growing demand for web design consulting services due to the online shift of the businesses in the COVID and post COVID era is significant.
In 2021, Hinge Research Institute conducted the High Growth Study collaborating with Deltek (A Consulting Firm). All the four hundred and fifty participants involved in the study have shown concern about the urge to execute the latest technological solution to manage the growth in the near term.
The motive of the study is to identify and report the overall changes. The fastest-growing companies conducted a survey annually to examine the strategies implemented, usually known as “High Growth Firms.”
This post explores the High Growth Study 2022 (Consulting Edition). The analysis will identify four key benefits that the consulting firms acknowledge on their path to profitability and growth. And after a strict examination and comparison of different performances and operating practices of organizations with those high-growth companies, you can modify your organizational standards and operational exercises.
What is the reason behind the high-growth companies?
Any company is particularized in the “High Growth” when a Compound Annual Growth Rate (CAGR) is approximately 20% or greater than 20% over the past three assessment years. We can observe that the high-growth firms are growing 3.5X (three and half times) faster than their peers with average growth. Compared to no growth and average growth consulting firms, the high-growth companies are outpacing all with a substantial margin. Undoubtedly, every company or agency wants to count among those high-performing peers.
So, we will discuss what are the key advantages the high-growth firms web design have and what the data reveal about them?
The key advantages are:
1) Technology
Technology is the first key advantage. The data revealed that the high-growth consulting companies have vital benefits when they adopt and implement business automation and software products once the agency had conducted a survey for automation maturity in which it allowed the participants to rate on a scale of 0 to 5 here 0 for no automation and 5 for optimized.
The survey said that high-growth companies have the most remarkable core-business software automation supremacy. Automation is the heart of all the supporting services. The most exciting thing is that the process and workflow automation are the number one thing that most companies want to adopt this year, and the fact is that high-growth firms have already adopted them.
The industry related to software and technology was the segment which has shown intense benefits in all the automation categories. It is an indicator of how software solutions play a central role.
2) Talent
Besides the pandemic, another topic that has dominated the headlines is resignation in the past two years. And this trend has been reflected in the High Growth Study.
Companies were struggling to find and retain the top talents, and this battle has been intensifying for several months. Web design services are in the middle of this battle, but high-growth companies also have the advantage.
The people who have participated in the High Growth Study 2022 have rated their companies’ skill set level from 1 to 10. But the high-growth companies have outperformed all as there are no growth peers in the decisive area. The high-growth consulting companies have the most significant advantage in five marketing strategies: Research, Project Management, Social Media Marketing (SMM), Search Engine Optimisation (SEO), and Data Analytics.
3) Marketing
The most discussed topic is how high-growth companies market themselves. This year, the content creation tactic has grabbed the top spot as the marketing priority. The consulting firms exactly know how content plays a role in marketing their skills. These firms know how difficult it is to create content that addresses the top business challenges of clients.
The top 5 marketing priorities for growth firms are Content creation, Social Media Marketing (SMM), Brand differentiation, Partnership Marketing, and Search Engine Optimisation (SEO). Here, also, creating top content is a priority. Therefore, high-growth firms are ahead of curves.
The High Growth Study asked participants to measure the overall efforts and impact of 25 marketing techniques. When the thing is to measure a marketing impact, the high-growth firms have shown notable trends. They reported the most impactful high-growth marketing methodologies. They are Consultations, Keyword Research & SEO, Live Demonstration (Product or Services), Nurturing Prospects (via phone calls), PR (Public Relations), and Original Research (Conduct and Publish).
The studies find that ‘SEO’ and ‘Keyword Research’ are the two techniques used mainly by consulting firms, primarily web design consulting agencies. The SEO effort is not a one-time investment; it is an ongoing process where one has to make adjustments according to Google’s ever-changing algorithm. In high-growth companies, original research and content are higher in consideration.
4) Strategy
It is the final advantage that high-growth companies enjoy. There are five trends on which the high growth firms mostly think: Workflow and Process Automation, Innovation, Employee Engagement, Remote Work, and Leadership. The high-growth firms are primarily thinking about workflow and process automation. It makes sense why we have mentioned the talents as a top reason for the battle among peers.
The high-growth companies are aware of the ongoing battle. They know how to retain talented members of the company. The high-growth firms mainly concentrate on proper technology utilization to optimize current utilization rates and fill the gap between the individual talents.
It is how some web design consulting services are growing at 3.5X faster than their peers or competitors.
If you are looking for web design firms, the US-based JanBask Digital Design is among the top firms in America. It has vast experience and a substantially satisfied clients-base. A web design company is proficient in several web designs, mainly responsive web design.
